Yes, it's a good cheap solution, and has
LOAD'S more uses as well - plus they are great fun to build if you buy them as a kit.
ESR wise, you probably need to remove the capacitor from the board though.
I've built about four of various types of these now, and they are incredibly useful - for example stick a transistor in it, and it tells you if it's NPN/PNP, and which wires are C, B and E. They are also great from telling what values modern 1% resistors are, as the colour codes are very poor.
When I was working as a service engineer I used a Peak Atlas ESR meter
https://www.peakelec.co.uk/acatalog/esr70-capacitor-esr-meter.html and those are really nice - but I do very few repairs now.